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Advance, Building Homes For Heroes Announce Home Giftings


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Advance Auto Parts and Building Homes for Heroes, a national nonprofit (501)(c)(3) organization, recently announced home giftings to two military veterans and their families.

Both families were in attendance for the announcement at the Supplier & Training Expo in Orlando, Florida, which was hosted by Worldpac, a subsidiary of Advance.

Founded in 2006, Building Homes for Heroes gifts mortgage-free homes to injured veterans and their families, while providing support services that help them to build their post-service lives. Homes are specially designed to help each veteran live a more productive and independent life as a civilian.

Since its inception, Building Homes for Heroes has gifted nearly 300 homes to our nation’s injured veterans. 

One of the veterans receiving a home was U.S. Air Force Technical Sergeant Rahmeka Hopkins. Hopkins joined the military in 2004 because she felt it would be an honor to serve her country. She would do so for the next 15 years before being discharged in 2019.

Following her service, Hopkins was diagnosed with a rare form of cancer attributed to chemical exposure. Hopkins also suffers from severe nerve damage and full-body malignant arthritis, which has confined her to a wheelchair. Hopkins and her family’s new home in Lakeland, Florida, will be catered to her needs as she continues her brave fight against cancer.  

The second recipient of a mortgage-free home is U.S. Marine Corps Cpl. Helbert Asprilla. Asprilla joined the Marines in 1997 to create opportunities for himself while giving back to a country that provided for him and his family. He would go on to serve two combat tours in Kosovo and Iraq before being discharged in 2004.

The violence Asprilla witnessed throughout years of combat left him with severe PTSD.  Additionally, Asprilla suffers from bilateral tremors and tinnitus. Building Homes for Heroes gifted Asprilla, his wife and young son a new home in Cape Coral, Florida. 

“At Advance, we know how important it is that we show our gratitude for our military heroes,” said Bob Cushing, executive vice president, professional, Advance Auto Parts. “In addition to employing thousands of military veterans throughout our company, our longstanding support of Building Homes for Heroes and heroes like retired U.S. Air Force Technical Sgt. Rahmeka Hopkins and retired U.S. Marine Corps Cpl. Helbert Asprilla is one of the many ways we give back to those who have done so much for all of us.”

“Our longstanding partnership with Advance Auto Parts continues to build better and brighter lives for so many of our nation’s heroes. Tonight, we added two more,” said Andy Pujol, founder and CEO of Building Homes for Heroes. “Retired U.S. Air Force Technical Sgt. Rahmeka Hopkins and retired U.S. Marine Corps Cpl. Helbert Asprilla are the latest additions to our Building Homes for Heroes family and another milestone toward surpassing our 300th home later this year and our 400th home by 2024. We can’t wait to welcome these heroes into their new homes soon.”

In 2021, Advance and its suppliers proudly raised approximately $1.5 million for Building Homes for Heroes, bringing the total contribution to nearly $17 million since 2011. The funds are used to build or modify homes and gift them, mortgage-free, to wounded veterans and their families, and many Advance team members participate in the home gifting ceremonies. 

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      High
       
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      $
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      $
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      $
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      Comparable store sales (1)
       
      (1.0
      )%
       
       

      %
       
       
      (0.5
      )%
       
       
      0.5
      %
      Operating income margin
       
      5.0
      %
       
       
      5.3
      %
       
       
      4.0
      %
       
       
      4.3
      %
      Income tax rate
       
      24.0
      %
       
       
      25.0
      %
       
       
      25.0
      %
       
       
      25.0
      %
      Diluted EPS
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      6.00
       
       
      $
      6.50
       
       
      $
      4.50
       
       
      $
      5.10
       
      Capital expenditures
      $
      250
       
       
      $
      300
       
       
      $
      200
       
       
      $
      250
       
      Free cash flow (2)
      $
      200
       
       
      $
      300
       
       
      $
      150
       
       
      $
      250
       
      New store and branch openings
       
      40
       
       
       
      60
       
       
       
      40
       
       
       
      60
       
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      July 15,
      2023 (1)
       
      December 31, 2022 (2)
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      $
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      793,772
       
       
      698,613
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      5,067,467
       
       
      4,915,262
      Other current assets
       
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      163,695
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      6,046,852
      Property and equipment, net
       
      1,688,891
       
       
      1,690,139
      Operating lease right-of-use assets
       
      2,618,822
       
       
      2,607,690
      Goodwill
       
      991,871
       
       
      990,471
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      606,450
       
       
      620,901
      Other assets
       
      71,870
       
       
      62,429
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      $
      12,304,376
       
      $
      12,018,482
      Liabilities and Stockholders' Equity
       
       
       
      Current liabilities:
       
       
       
      Accounts payable
      $
      3,780,215
       
      $
      4,123,462
      Accrued expenses
       
      685,191
       
       
      634,447
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      95,000
       
       
      185,000
      Other current liabilities
       
      465,972
       
       
      427,480
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      5,026,378
       
       
      5,370,389
      Long-term debt
       
      1,785,074
       
       
      1,188,283
      Noncurrent operating lease liabilities
       
      2,249,994
       
       
      2,278,318
      Deferred income taxes
       
      432,680
       
       
      415,997
      Other long-term liabilities
       
      87,063
       
       
      87,214
      Total stockholders' equity
       
      2,723,187
       
       
      2,678,281
      Total liabilities and stockholders’ equity
      $
      12,304,376
       
      $
      12,018,482
      (1)
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      Advance Auto Parts, Inc. and Subsidiaries
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      (In thousands, except per share data) (unaudited)
       
       
       
       
       
       
      Twelve Weeks Ended
       
      Twenty-Eight Weeks Ended
       
      July 15, 2023 (1)
       
      July 16, 2022 (1)
       
      July 15, 2023 (1)
       
      July 16, 2022 (1)
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      $
      2,686,066
       
       
      $
      2,665,426
       
       
      $
      6,103,659
       
       
      $
      6,039,636
       
      Cost of sales, including purchasing and warehousing costs
       
      1,537,997
       
       
       
      1,479,707
       
       
       
      3,484,927
       
       
       
      3,347,397
       
      Gross profit
       
      1,148,069
       
       
       
      1,185,719
       
       
       
      2,618,732
       
       
       
      2,692,239
       
      Selling, general and administrative expenses (2)
       
      1,013,701
       
       
       
      984,037
       
       
       
      2,394,365
       
       
       
      2,287,287
       
      Operating income
       
      134,368
       
       
       
      201,682
       
       
       
      224,367
       
       
       
      404,952
       
      Other, net:
       
       
       
       
       
       
       
      Interest expense
       
      (20,869
      )
       
       
      (10,207
      )
       
       
      (50,587
      )
       
       
      (23,075
      )
      Loss on early redemption of senior unsecured notes
       

       
       
       

       
       
       

       
       
       
      (7,408
      )
      Other income (expense), net
       
      1,684
       
       
       
      (711
      )
       
       
      1,009
       
       
       
      (575
      )
      Total other, net
       
      (19,185
      )
       
       
      (10,918
      )
       
       
      (49,578
      )
       
       
      (31,058
      )
      Income before provision for income taxes
       
      115,183
       
       
       
      190,764
       
       
       
      174,789
       
       
       
      373,894
       
      Provision for income taxes
       
      29,821
       
       
       
      46,362
       
       
       
      46,776
       
       
       
      89,701
       
      Net income
      $
      85,362
       
       
      $
      144,402
       
       
      $
      128,013
       
       
      $
      284,193
       
       
       
       
       
       
       
       
       
      Basic earnings per common share
      $
      1.44
       
       
      $
      2.39
       
       
      $
      2.16
       
       
      $
      4.67
       
      Weighted-average common shares outstanding
       
      59,451
       
       
       
      60,452
       
       
       
      59,384
       
       
       
      60,914
       
       
       
       
       
       
       
       
       
      Diluted earnings per common share
      $
      1.43
       
       
      $
      2.38
       
       
      $
      2.15
       
       
      $
      4.63
       
      Weighted-average common shares outstanding
       
      59,604
       
       
       
      60,782
       
       
       
      59,570
       
       
       
      61,328
       
      (1)
        These preliminary condensed consolidated statements of operations have been prepared on a basis consistent with the company's previously prepared consolidated statements of operations filed with the SEC, but do not include the footnotes required by GAAP.
      (2)
        The twenty-eight weeks ended July 15, 2023 included an out-of-period charge of approximately $17 million related to costs incurred in prior years but not expensed in the corresponding periods. The company determined the cumulative impact was not material to the current period or any previously issued financial statements.
      Advance Auto Parts, Inc. and Subsidiaries
      Condensed Consolidated Statements of Cash Flows
      (In thousands) (unaudited)
       
       
       
       
       
      Twenty-Eight Weeks Ended
       
      July 15, 2023 (1)
       
      July 16, 2022 (1)
      Cash flows from operating activities:
       
       
       
      Net income
      $
      128,013
       
       
      $
      284,193
       
      Adjustments to reconcile net income to net cash used in operating activities:
       
       
       
      Depreciation and amortization
       
      162,974
       
       
       
      148,691
       
      Share-based compensation
       
      26,791
       
       
       
      29,345
       
      Loss and impairment on property and equipment, net
       
      859
       
       
       
      2,970
       
      Loss on early redemption of senior unsecured notes
       

       
       
       
      7,408
       
      Provision for deferred income taxes
       
      16,249
       
       
       
      8,779
       
      Other, net
       
      1,170
       
       
       
      1,575
       
      Net change in:
       
       
       
      Receivables, net
       
      (93,539
      )
       
       
      (149,255
      )
      Inventories, net
       
      (145,148
      )
       
       
      (176,300
      )
      Accounts payable
       
      (346,808
      )
       
       
      168,219
       
      Accrued expenses
       
      120,888
       
       
       
      (46,887
      )
      Other assets and liabilities, net
       
      (36,008
      )
       
       
      29,805
       
      Net cash (used in) provided by operating activities
       
      (164,559
      )
       
       
      308,543
       
      Cash flows from investing activities:
       
       
       
      Purchases of property and equipment
       
      (144,874
      )
       
       
      (211,212
      )
      Proceeds from sales of property and equipment
       
      1,532
       
       
       
      830
       
      Net cash used in investing activities
       
      (143,342
      )
       
       
      (210,382
      )
      Cash flows from financing activities:
       
       
       
      Borrowings under credit facilities
       
      4,327,000
       
       
       
      743,000
       
      Payments on credit facilities
       
      (4,417,000
      )
       
       
      (643,000
      )
      Borrowings on senior unsecured notes
       
      599,571
       
       
       
      348,618
       
      Payments on senior unsecured notes
       

       
       
       
      (201,081
      )
      Dividends paid
       
      (179,347
      )
       
       
      (245,599
      )
      Repurchases of common stock
       
      (13,808
      )
       
       
      (466,169
      )
      Other, net
       
      (2,013
      )
       
       
      (1,329
      )
      Net cash provided by (used in) financing activities
       
      314,403
       
       
       
      (465,560
      )
      Effect of exchange rate changes on cash
       
      1,280
       
       
       
      6,522
       
      Net increase (decrease) in cash and cash equivalents
       
      7,782
       
       
       
      (360,877
      )
      Cash and cash equivalents, beginning of period
       
      269,282
       
       
       
      601,428
       
      Cash and cash equivalents, end of period
      $
      277,064
       
       
      $
      240,551
       
      (1)
        These preliminary condensed consolidated statements of cash flows have been prepared on a consistent basis with the company's previously prepared statements of cash flows filed with the SEC, but do not include the footnotes required by GAAP.
      Reconciliation of Non-GAAP Financial Measure
      The company's financial results include certain financial measures not derived in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Management uses Free cash flow as a measure of its liquidity and believes it is a useful indicator to investors or potential investors of the company's ability to implement growth strategies and service debt. Free cash flow is a non-GAAP measure and should be considered in addition to, but not as a substitute for, information contained in the company's condensed consolidated statement of cash flows as a measure of liquidity.
      Reconciliation of Free Cash Flow:
       
      Twenty-Eight Weeks Ended
      (in thousands)
      July 15, 2023
       
      July 16, 2022
      Cash flows (used in) provided by operating activities
      $
      (164,559
      )
       
      $
      308,543
       
      Purchases of property and equipment
       
      (144,874
      )
       
       
      (211,212
      )
      Free cash flow
      $
      (309,433
      )
       
      $
      97,331
       
      Adjusted Debt to Adjusted EBITDAR: (1)
       
         
       
         
      Four Quarters Ended
        (In thousands, except adjusted debt to adjusted EBITDAR ratio)
      July 15,
      2023
         
      December 31, 2022
        Total GAAP debt
      $
      1,880,074
         
      $
      1,373,283
        Add: Operating lease liabilities
       
      2,705,388
         
       
      2,692,861
        Adjusted debt
      $
      4,585,462
         
      $
      4,066,144
         
       
         
       
        GAAP Net income
      $
      345,692
         
      $
      501,872
        Depreciation and amortization
       
      298,083
         
       
      283,800
        Interest expense
       
      78,572
         
       
      51,060
        Other expense, net
       
      5,412
         
       
      6,996
        Provision for income taxes
       
      103,890
         
       
      146,815
        Rent expense
       
      596,537
         
       
      594,838
        Share-based compensation
       
      48,424
         
       
      50,978
        Other non-cash charges
       
      17,725
         
       

        Adjusted EBITDAR
      $
      1,494,335
         
      $
      1,636,359
         
       
         
       
        Adjusted Debt to Adjusted EBITDAR
       
      3.1
         
       
      2.5
        (1)
        Beginning in first quarter 2023, the company no longer excludes transformation-related activities in non-GAAP measures. Prior period has been recast to conform to current year presentation.
      NOTE: Management believes its Adjusted Debt to Adjusted EBITDAR ratio (“leverage ratio”) is a key financial metric for debt securities, as reviewed by rating agencies, and believes its debt levels are best analyzed using this measure. The company’s goal is to maintain an investment grade rating. The company's credit rating directly impacts the interest rates on borrowings under its existing credit facility and could impact the company's ability to obtain additional funding. If the company was unable to maintain its investment grade rating this could negatively impact future performance and limit growth opportunities. Similar measures are utilized in the calculation of the financial covenants and ratios contained in the company's financing arrangements. The leverage ratio calculated by the company is a non-GAAP measure and should not be considered a substitute for debt to net earnings, net earnings or debt as determined in accordance with GAAP. The company adjusts the calculation to remove rent expense and to add back the company’s existing operating lease liabilities related to their right-of-use assets to provide a more meaningful comparison with the company’s peers and to account for differences in debt structures and leasing arrangements. The company’s calculation of its leverage ratio might not be calculated in the same manner as, and thus might not be comparable to, similarly titled measures by other companies.
      Store Information
      During the twenty-eight weeks ended July 15, 2023, 39 stores and branches were opened and 16 were closed or consolidated, resulting in a total of 5,109 stores and branches as of July 15, 2023, compared with a total of 5,086 stores and branches as of December 31, 2022.
      The below table summarizes the changes in the number of company-operated store and branch locations during the twelve and twenty-eight weeks ended July 15, 2023:
       
       
      Twelve Weeks Ended
       
       
      AAP
       
      CARQUEST
       
      WORLDPAC (1)
       
      Total
      April 22, 2023
       
      4,456
       
      322
       
      318
       
      5,096
      New
       
      17
       

       
      1
       
      18
      Closed
       
      (2)
       
      (3)
       

       
      (5)
      July 15, 2023
       
      4,471
       
      319
       
      319
       
      5,109
       
       
      Twenty-Eight Weeks Ended
       
       
      AAP
       
      CARQUEST
       
      WORLDPAC (1)
       
      Total
      December 31, 2022
       
      4,440
       
      330
       
      316
       
      5,086
      New
       
      36
       

       
      3
       
      39
      Closed
       
      (5)
       
      (11)
       

       
      (16)
      July 15, 2023
       
      4,471
       
      319
       
      319
       
      5,109
      There were no consolidated, converted or relocated stores during the twelve and twenty-eight weeks ended July 15, 2023. (1) Certain converted Autopart International ("AI") locations will remain branded as AI going forward.
       

      View source version on  link hidden, please login to view:  link hidden, please login to view
      Investor Relations Contact:
      Elisabeth Eisleben
      T: (919) 227-5466
      E: [email protected]
      Media Contact:
      Darryl Carr
      T: (984) 389-7207
      E: [email protected]
      Source: Advance Auto Parts, Inc.

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    • By Advance Auto Parts
      ADVANCE AUTO PARTS ANNOUNCES EXECUTIVE LEADERSHIP CHANGES
        Appoints Shane O’Kelly as President and Chief Executive Officer
      Names Tony Iskander as Interim Chief Financial Officer
      RALEIGH, N.C.--(BUSINESS WIRE)-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, today announced that its board of directors has appointed Shane O’Kelly as president and chief executive officer, effective September 11, 2023. Mr. O’Kelly will succeed Tom Greco, who has served as president and CEO since April 2016. Mr. Greco announced his planned retirement in February 2023 and will stay on as an advisor to ensure a seamless transition.
      Mr. O’Kelly has also been appointed to the Advance Auto Parts board of directors, effective September 11, 2023. Gene Lee, interim executive chair of the board of directors, will continue in his interim role through the end of the year.
      Mr. O’Kelly, 54, brings more than 30 years of operational, strategic development, integration and supply chain experience, including a proven track record of developing high-performing teams and cultures to drive results. Most recently, Mr. O’Kelly served as CEO of HD Supply, a wholly owned subsidiary of The Home Depot, Inc. Prior to joining Home Depot, Mr. O’Kelly was the CEO of PetroChoice, the nation's largest distributor of lubricants and lubrication solutions. Prior to that, he was CEO of AH Harris, a specialty construction supply distributor. Earlier in his career, he worked at The Home Depot and McKinsey and Company. Mr. O’Kelly served as a captain in the US Army and earned an MBA from Harvard Business School and a bachelor’s degree from The United States Military Academy at West Point.
      Gene Lee, interim executive chair, said, “On behalf of the entire Advance Auto Parts board, I am delighted to welcome Shane to the Advance family. Following an extensive search over the past several months, we are confident that Shane’s robust operational background leading complex supply chain organizations makes him the ideal next leader for Advance. His proven leadership, commitment to serving customers, and strong track record of disciplined execution across multi-unit businesses will enable him to lead Advance in the next chapter and help drive long-term value for our shareholders.”
      Mr. O’Kelly said, “I am honored to be joining Advance at such an important inflection point for the company. I have great respect for the talented team members at Advance and all that has been accomplished, including the team’s relentless focus on delivering for customers while navigating the challenging competitive and macroeconomic environment. As we undertake an operational and strategic review of the business, I look forward to working alongside the entire Advance team and our board of directors to drive growth, operational excellence and value for all stakeholders.”
      The company also announced today that Tony Iskander has been named interim chief financial officer, effective August 18, 2023. Mr. Iskander succeeds Jeff Shepherd, who departed from Advance, effective August 18, 2023. Mr. Iskander has more than 25 years of finance and accounting experience and served as the company’s senior vice president, finance and treasurer since 2020. Prior to joining Advance in 2017, he spent more than a decade at Hillrom, where he held various finance roles of increasing responsibility. A search is being initiated, with the assistance of a leading executive search firm, to identify the company’s next chief financial officer.
      Mr. Lee said, “We thank Jeff for his contributions and wish him the best in his future endeavors. Advance is fortunate to have a seasoned executive in Tony to assume the CFO role on an interim basis. I am very confident that Tony will lead the finance team through a seamless transition and work closely with Advance’s new CEO when Shane officially joins in September.”
      About Advance Auto Parts
      Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of July 15, 2023, Advance operated 4,790 stores and 319 Worldpac branches primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 1,307 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at 
      link hidden, please login to view. Forward-Looking Statements
      Certain statements herein are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are usually identifiable by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “likely,” “may,” “plan,” “position,” “possible,” “potential,” “probable,” “project,” “should,” “strategy,” “will,” or similar language. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements about our leadership transition, strategic initiatives, operational plans and objectives, our planned strategic and operational review and expectations for economic conditions, future business results and future financial performance, as well as statements regarding underlying assumptions related thereto. Forward-looking statements reflect our views based on historical results, current information and assumptions related to future developments. Except as may be required by law, we undertake no obligation to update any forward-looking statements made herein. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements. They include, among others, factors related to the company’s leadership transition, the timing and implementation of strategic initiatives, our ability to hire, train and retain qualified employees, deterioration of general macroeconomic conditions, the highly competitive nature of our industry, demand for our products and services, complexities in our inventory and supply chain and challenges with transforming and growing our business. Please refer to “
      link hidden, please login to view” of our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), as updated by our subsequent filings with the SEC, for a description of these and other risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements.
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      Investor Relations Contact:
      Elisabeth Eisleben
      T: (919) 227-5466
      E: [email protected]
      Media Contact:
      Darryl Carr
      T: (984) 389-7207
      E: [email protected]
      Source: Advance Auto Parts, Inc.

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    • 30% OFF all service and repair manuals
    • By Advance Auto Parts
      ADVANCE AUTO PARTS OFFERING STUDENTS A CHANCE TO WIN A ‘FUEL RIDE TO COLLEGE’ AND FREE ‘OFF-TO-CAMPUS’ IN-STORE SERVICES
        Incoming college freshmen can enter to win a “fuel ride” – four years of free gasoline – after new national survey reveals gas is a significant financial strain for majority of students
      RALEIGH, N.C.--(BUSINESS WIRE)-- Advance Auto Parts (NYSE: AAP), a leading automotive aftermarket parts provider, announced today that it will help advance the education of incoming college freshmen, and ease their financial burden, by awarding 10 “fuel rides” in the form of four years of free gasoline to 10 lucky winners of the “Fuel Ride to College” sweepstakes.*
      This press release features multimedia. View the full release here: 
      link hidden, please login to view Along with providing four years of free gas to 10 college students, Advance Auto Parts is offering free in-store services, including free battery testing and installation, wiper blade installation and check engine light scanning. (Photo: Business Wire)
      Advance’s “Fuel Ride to College” sweepstakes arrives right on time as prices at the pump tick up. New data from Atomik Research reveals that 67% of college students cite gasoline for their automobile as being an expense that puts the most financial strain on their wallet**, while 76% of parents of incoming freshmen say they are worried about their student’s ability to afford gas.***
      Parents also have significant anxiety regarding the safety of their college students when it comes to the automobiles they operate, according to Atomik Research surveys commissioned by Advance. Nearly two-thirds (63%) of parents of incoming college freshmen feel very or extremely anxious about their student’s safety when it comes to maintaining their cars and about three-fourths (73%) of parents have more anxiety about the car safety of their incoming college freshman than they did during the child’s senior year in high school.
      Parents’ anxiety is warranted as more than half of college students admit to having ignored dashboard alerts and notifications, including “check engine” and “low battery warning,” according to the survey.
      To help ease this anxiety, Advance and its team of friendly automotive experts are offering students and their parents free “off-to-campus” in-store services at Advance stores nationwide, including free battery testing and installation, wiper blade installation and check engine light scanning.
      In addition to awarding 10 four-year “Fuel Rides to College,” Advance will also award 20 additional winners a $100 Advance gift card to stock up on essentials to help keep their automobiles in reliable shape this school year. If interested in learning more, visit 
      link hidden, please login to view through Aug. 18 to review eligibility requirements to enter for a chance to win and to review the sweepstakes rules. “Starting college is exciting for incoming freshmen, but that excitement is accompanied by anxiety and worry for both students and their parents, especially regarding finances and safety,” said Samantha Avivi, Advance’s chief marketing officer. “Through our ‘Fuel Ride to College’ program and complimentary curbside services for motorists, we want to put the brakes on fuel-filled worries for both students and parents, especially when it comes to having a reliable and safe automobile on the road to college, around campus, back home and everywhere in between.”
      Additional data from the Atomik surveys validate the value of a “Fuel Ride to College:”
      One-third (33%) of students cite that a lack of gas money or the cost of gas has deterred them from going to class, the library or study groups, while 60% of incoming college students’ parents express this exact worry: that the cost of gas will deter their child from going to class or education-related activities. Many college students choose between fueling their body and their automobile: more than one-third (36%) say they have compromised or cut back on groceries to fit gas money into their budget. One-quarter (25%) of college students say they’ve had to cut back or compromise school supplies to fuel their automobiles. Advance has also partnered with auto racing driver and television personality Arie Luyendyk Jr. to encourage incoming freshmen to enter for a chance to win a “Fuel Ride to College” and spread the word about Advance’s commitment to providing parents peace of mind via complimentary in-store services. Check out 
      link hidden, please login to view or visit an  link hidden, please login to view to shop for auto parts and products needed to get vehicles in shape for the school year or to receive a free off-to-campus vehicle checkup. About Advance Auto Parts
      Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of April 22, 2023, Advance operated 4,778 stores and 318 Worldpac branches primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 1,315 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at 
      link hidden, please login to view. * NO PURCHASE NECESSARY TO ENTER OR WIN. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. Open only to legal residents of the 50 United States (D.C.), 17 to 20 years of age. Void where prohibited by law. Sweepstakes begins at 8:00 am ET on 8/7/23 and ends at 11:59 pm ET on 8/18/23. Subject to full Official Rules including prizes and odds, 
      link hidden, please login to view. Sponsor: Advance Stores Company, Incorporated, 4200 Six Forks Road, Raleigh, NC 27609. ** Atomik Research conducted an online survey of 1,003 college students across the United States between July 10 and 12, 2023. Qualified respondents are students currently enrolled or planning to be enrolled at a college, university, community college or trade school this fall and who own and/or regularly operate a car. The age of participants ranges between 18 and 24. Margin of error of the sample is +/- 3 percentage points with a confidence level of 95%.
      *** Atomik Research conducted an online survey of 504 parents of incoming college freshmen across the United States between July 10 and 18, 2023. Qualified respondents are parents of incoming freshmen, who own or regularly operate a car, and are planning to be enrolled at a college, university, community college or trade school this fall. Margin of error of the sample is +/- 4 percentage points with a confidence level of 95%.

      View source version on  link hidden, please login to view:  link hidden, please login to view
      Advance Auto Parts Contacts:
      Investor Relations:
      Elisabeth Eisleben
      T: (919) 227-5466
      E: [email protected]
      Media Relations:
      Darryl Carr
      T: (984) 389-7207
      E: [email protected]
       
      Source: Advance Auto Parts

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